THE DRILL SERGEANT: BCI Minerals (ASX: BCI) claimed that recent drilling at the company’s Kumina tenements have confirmed the discovery of a high-grade iron ore deposit.
BCI Minerals made the claim based on initial assay results from drilling undertaken on the Kumina E target, part of the Kumina tenements comprising three granted exploration licences located approximately 100 kilometres south of Karratha and 50km north-east of BCI’s Bungaroo South deposit.
The company acquired the highly prospective tenements in September 2017, which have had minimal previous exploration.
BCI considers the tenements to have the potential to host iron ore deposits.
Iron ore deposits discovered at Kumina are intended to become part of BCI’s Buckland project, where the company is targeting a 15 to 20 million tonnes per annum operation for 15 years from Bungaroo South and Kumina for export through its proposed Cape Preston East Port.
A 300-hole Stage 2 drilling program is well advanced, with more than 200 holes completed.
Assays from first 37 holes at Kumina E returned results that confirmed the presence of high-grade iron ore, including:
40 metres at 62 per cent iron from surface;
34m at 60.3 per cent iron from surface;
32m at 59.9 per cent iron from surface, including 10m at 62.1 per cent iron from surface;
30m at 59.9 per cent iron from surface, including 6m at 63.3 per cent iron from surface;
22m at 61.9 per cent iron from surface, including 10m at 64.4 per cent iron from 10m;
20m at 64.4 per cent iron from surface, including 6m at 66.1 per cent iron from 4m; and
18m at 62.4 per cent iron from surface, including 12m at 64.2 per cent iron from 4m.
“These positive drilling results support our view that the Kumina tenements potentially host a meaningful tonnage of high-grade bedded iron ore mineralisation,” BCI Minerals managing director Alwyn Vorster said in the company’s announcement to the Australian Securities Exchange.
“This could transform the overall Buckland Iron Ore Project and also provides options to consider a standalone Kumina operation with higher quality products.”